Ford's shares slide on lower year-end guidance despite earnings beat

delivered a big earnings beat for the third quarter but lowered investor expectations for the rest of the year as the automaker grapples with falling consumer demand, primarily in China.Adjusted earnings: 34 cents per share vs. 26 cents expected.The automaker said it expects to make less profit than previously expected for the year, lowering its 2019 earnings guidance to between $6.5 billion to $7 billion, or between $1.20 and $1.32 per share.

"From a key takeaway standpoint, we think Q3 was a good quarter," Ford CFO Tim Stone told reporters during an earnings briefing. "The progress we've made also indicates we have more work to do, more opportunity ahead but it's a good start for the year." The third-quarter was expected to be Ford's worst of the year as part of a weaker second half compared to 2018. The automaker strongly beat Wall Street expectations in the first three months of the year before

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Fonte: CNBC - 🏆 12. / 72 Leggi di più »